| There are so many so called self proclaimed "experts" | | | | be submitted along with your offer to purchase or |
| out there today that the first time home buyer can feel | | | | contract of sale. |
| quite overwhelmed, confused and frustrated even | | | | * Now that the price range is determined as to what is |
| before they have stepped foot into their first house. | | | | affordable, the next step would be searching the |
| Some might start shouting "just shut up and buy the | | | | internet for homes. That's assuming the area in which |
| house" to each other, yes, things can get out of hand | | | | the person wants to live has already been |
| sometimes, but with a little patience and a little | | | | predetermined. Once a few homes are chosen to see |
| education ahead of time, it can be the most exciting | | | | call a local Realtor and ask them to check the |
| and wonderful time in a person's life. | | | | availability of the homes chosen. Be wary of a real |
| To keep the process as simple as possible, there are | | | | estate agent that tries to persuade you to see a |
| a few steps that can be taken in preparation for the | | | | home that doesn't appeal to you. If they show you |
| home buying process that will leave the first time | | | | something that appeals to you by all means go see |
| home buyer feeling a lot less stressed and a lot more | | | | the house but a pushy agent that wants to show you |
| educated. With knowledge brings confidence and a | | | | a home that you don't really think you will like just say |
| confident and educated buyer is a happy and | | | | no! Chances are they are choosing that home with |
| successful one! | | | | their own intentions in mind, perhaps the house offers a |
| Here are a few steps and strategies a new home | | | | buyer's agent incentive or a higher commission rate, |
| buyer can use to help ease the stress of their home | | | | that is not your concern nor should it be theirs. Your |
| purchase: | | | | needs come first, not theirs. |
| * Check your own credit report. Your credit will be | | | | * Ask the real estate agent to walk you through the |
| checked by the mortgage broker when the time | | | | home buying process. There are things the real estate |
| comes to pre approve you, however, it is a good idea | | | | agent will talk to you about that your mortgage broker |
| to check your own credit before hand, just in case | | | | may not. Things like timely escrow payments and |
| there is anything showing on the report you do not | | | | home inspections, attorney review periods, etc. typically |
| agree with, you can contact the credit bureau that | | | | may not come up in the meeting with the mortgage |
| shows the report and try to get it straightened out | | | | broker, but these things mentioned should be run |
| ahead of time. | | | | through with the home buyer so they know what to |
| * Talk to a mortgage representative. If planning on | | | | expect during the transaction. |
| obtaining a mortgage to purchase a home, the first and | | | | * When the home is found and an offer is about to be |
| most logical step to take is to find out how much of a | | | | drafted, it is a good idea to get in touch with an |
| mortgage can be afforded. Too many times a buyer | | | | attorney at that time. Make sure they are taking new |
| thinks they know what they can afford, they find a | | | | clients and ask them what their fee is for handling a |
| home they love, only to come to find out that they are | | | | buyer real estate transaction. Watch out for attorney's |
| unable to afford the mortgage payments. The | | | | that are not practicing real estate as their primary field. |
| mortgage representative will not only be able to | | | | A trial attorney that is hired to do a real estate |
| determine how much of a mortgage is suitable to your | | | | transaction could wind up not being available to close |
| income, they will be able to then determine what price | | | | the home and that could delay the closing, not to |
| range you will be safe looking in. So if a person thought | | | | mention expire the mortgage commitment date. Stick |
| they could afford the four bedroom colonial down the | | | | with a fixed rate residential real estate attorney when |
| street, but then come to find they can only afford the | | | | at all possible. |
| 2 bedroom ranch, at least they found out immediately | | | | Don't be afraid to ask questions. You have an |
| instead of setting themselves up for disappointment. | | | | inspector, mortgage broker, real estate agent and |
| Have the mortgage broker pre approve you, NOT pre | | | | attorney all working for you. Ask questions as you go |
| qualify you. There is a difference and a pre approval | | | | along so by the time you get the keys to your new |
| will hold water and will usually be needed anyway to | | | | home you will feel like an expert! |